Sanderson Farms, Inc. (NASDAQ:SAFM) shares fell 5.7% during mid-day trading on Thursday following a dissappointing earnings announcement. The company traded as low as $119.20 and last traded at $120.74. 806,902 shares were traded during trading, an increase of 53% from the average session volume of 528,997 shares. The stock had previously closed at $128.00.
The company reported $0.60 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.31 by ($0.71). The company had revenue of $771.90 million during the quarter, compared to analysts’ expectations of $764.22 million. Sanderson Farms had a return on equity of 19.30% and a net margin of 8.96%. The firm’s quarterly revenue was up 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.02 EPS.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, February 13th. Stockholders of record on Tuesday, January 30th were issued a $0.32 dividend. The ex-dividend date of this dividend was Monday, January 29th. This represents a $1.28 annualized dividend and a dividend yield of 1.07%. Sanderson Farms’s dividend payout ratio is currently 9.50%.
Several research firms have recently commented on SAFM. Zacks Investment Research upgraded Sanderson Farms from a “strong sell” rating to a “hold” rating in a report on Thursday, December 7th. Morgan Stanley began coverage on Sanderson Farms in a report on Friday, November 3rd. They issued an “equal weight” rating and a $140.00 price objective on the stock. Barclays reiterated an “equal weight” rating and issued a $150.00 price objective (up previously from $136.00) on shares of Sanderson Farms in a report on Thursday, December 14th. KeyCorp began coverage on Sanderson Farms in a report on Tuesday, October 31st. They set a “sector weight” rating on the stock. Finally, BMO Capital Markets restated a “hold” rating and set a $140.00 price target on shares of Sanderson Farms in a report on Monday, December 18th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $132.82.
In related news, Director Jones Gail Pittman sold 260 shares of the business’s stock in a transaction dated Friday, December 22nd. The stock was sold at an average price of $140.92, for a total transaction of $36,639.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.30% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the business. Aperio Group LLC boosted its position in Sanderson Farms by 28.6% during the 3rd quarter. Aperio Group LLC now owns 22,899 shares of the company’s stock valued at $3,699,000 after acquiring an additional 5,091 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Sanderson Farms by 6.6% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 173,971 shares of the company’s stock valued at $28,100,000 after acquiring an additional 10,829 shares in the last quarter. Macquarie Group Ltd. boosted its position in Sanderson Farms by 8.0% during the 3rd quarter. Macquarie Group Ltd. now owns 18,800 shares of the company’s stock valued at $3,036,000 after acquiring an additional 1,400 shares in the last quarter. Aull & Monroe Investment Management Corp bought a new stake in Sanderson Farms during the 3rd quarter valued at approximately $363,000. Finally, Barry Investment Advisors LLC bought a new stake in Sanderson Farms during the 3rd quarter valued at approximately $258,000.
The firm has a market cap of $2,757.19, a PE ratio of 8.90 and a beta of 0.47.
Sanderson Farms Company Profile
Sanderson Farms, Inc is a poultry processing company. The Company is engaged in the production, processing, marketing and distribution of fresh and frozen chicken, and also preparation, processing, marketing and distribution of processed and minimally prepared chicken. It sells ice pack, chill pack, bulk pack and frozen chicken, in whole, cut-up and boneless form, under the Sanderson Farms brand name to retailers, distributors, casual dining operators, customers reselling frozen chicken into export markets.
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